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Communication and decision-making by central bank committees : different strategies, same effectiveness?
Ehrmann, Michael (contributor);  … - 2005
The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking process in the committee. The paper shows that the Federal...
Persistent link: https://www.econbiz.de/10003014292
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Geography or skills : what explains Fed watchers' forecast accuracy of US monetary policy?
Berger, Helge (contributor); Ehrmann, Michael (contributor);  … - 2006
The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 basis points between the best and worst-performers...
Persistent link: https://www.econbiz.de/10003396783
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The Maastricht convergence criteria and optimal monetary policy for the EMU accession Countries
Lipińska, Anna (contributor) - 2008
The EMU accession countries are obliged to fulfill the Maastrich convergence criteria prior to entering the EMU. This paper uses a DSGE model of a two-sector small open economy, to address the following question: How do the Maastricht convergence criteria modify optimal monetary policy in an...
Persistent link: https://www.econbiz.de/10003778818
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Trade with central and eastern Europe : is it really a threat to wages in the west?
Polgár, Éva Katalin; Wörz, Julia - 2010
industries) in 25 EU countries over the period from 1995 to 2005. By applying a cross-country and industry-specific approach, it …
Persistent link: https://www.econbiz.de/10008659411
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Efectos del proceso de integración europeo sobre la composición funcional del gasto público
Sanz Labrador, Ismael; Velázquez Angona, Francisco J. - In: Papeles de economía española 91 (2002), pp. 46-59
Persistent link: https://www.econbiz.de/10001660053
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Deeper, wider and more competitive? : monetary integration, Eastern enlargement and competitiveness in the European Union
Ottaviano, Gianmarco I. P. (contributor);  … - 2007
firms? And in the European context, have key elements of the EU strategy such as EMU and enlargement helped or hindered … located in participating economies. Enlargement has, instead, two contrasting effects. It improves the accessibility of EU …
Persistent link: https://www.econbiz.de/10003635984
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The German block of the ESCB multi-country model
Vetlov, Igor (contributor); Warmedinger, Thomas (contributor) - 2006
The paper presents the German block of the ESCB multi-country model. It builds on previous modelling work on the Area Wide Model and other country blocks of the ESCB multicountry-model. Whilst being analogous to these models in following a common modelling approach and the same theoretical...
Persistent link: https://www.econbiz.de/10003358598
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Fiscal and monetary policy in the enlarged European Union (forthcoming)
Pogorelec, Sabina (contributor) - 2006
I build a quantitative two-country DSGE model of the European Union (EU) and investigate whether there are welfare … gains from fiscal policy cooperation between the new EU members and the euro area (EMU). Fiscal cooperation is defined in … firms in the new EU countries. When there is no foreign ownership in the new EU countries, the euro area is indifferent …
Persistent link: https://www.econbiz.de/10003358603
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The impact of ECB monetary policy decisions and communication on the yield curve
Brand, Claus (contributor); Buncic, Daniel (contributor);  … - 2006
We analyse high-frequency changes in the euro area money market yield curve on dates when the ECB regularly sets and communicates decisions on policy interest rates to construct different indicators of monetary policy news relating to policy decisions and to central bank communication. The...
Persistent link: https://www.econbiz.de/10003358614
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The Italian block of the ESCB multi-country model
Angelini, Elena (contributor);  … - 2006
This paper documents the structure, estimation and simulation properties of the Italian block of the ESCB-multi-country model (MCM). The model is used regularly as an input into Eurosystem projection exercises and, to a lesser extent, in simulation analysis. The specic̄ation of the Italian...
Persistent link: https://www.econbiz.de/10003358630